August 23, 2016 / 1:12 PM / in 2 years

J.M. Smucker, biggest U.S. roaster, sees ample Brazil coffee supply

NEW YORK, Aug 23 (Reuters) - There is “a lot of coffee” on farmers’ fields in top-grower Brazil, and J.M. Smucker Co, the biggest U.S. coffee roaster, is comfortable with cuts to retail prices it made earlier in the year, an executive told investors on Tuesday.

“We felt very comfortable with pricing changes that we made given the coverage that we had,” Steven Oakland, vice chair and president for coffee and foodservice, said on the company’s first quarter fiscal 2017 earnings call, adding that if the company had to change retail prices it would not be until “much later in the year.” (Reporting By Luc Cohen; Editing by Chizu Nomiyama)

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